Car Accident Insurance in Alberta Increases by 5%
As of November 2013, drivers within the province of Alberta, will notice a 5% rate increase on their car coverage, including coverage for third-party liability and accident benefits.
Alberta’s Automobile Insurance Rate Board approved the increase during their annual public rate review of mandatory automobile insurance. Starting November 1, 2013, insurance providers will be given the option to immediately implement the increase, or gradually increase the cost of coverage over the next three years.
Fewer Accidents, but Larger Claims in Alberta
According to the board, the 5% increase was necessary because, while the overall number of insurance claims has decreased, the average cost for personal injury resulting from car accidents has risen significantly.
According to board chairman, Alfred Savage, the increase –which works out to an average of $30 per year– reflects current trends in automobile coverage, while keeping insurance premiums at a reasonable level.
The board also emphasized that it has collectively reduced premiums by 13% since 2004, and will continue to closely monitor the effects of this years increase.
You’ve been in a car accident –what now?
Driving conditions in Alberta can be treacherous, especially during the winter months. Our team of accident injury lawyers are here to help you in the event that you are involved in a collision and are now seeking compensation from an insurance company.
If you have been in an accident, it is possible that you have sustained injuries beyond those felt immediately after the crash. The effects of accident-related injuries such as back pain, whiplash, TMJ related injuries, headaches, and muscle or tissue strains can have devastating long-term effects on your quality of life and ability to work. Our lawyers are committed to helping you receive the fair and adequate compensation necessary to help you recover from your injuries, and manage any long-term suffering that you might face.
Need A Car Accident Lawyer in Edmonton?
Have you recently been involved in a car accident in Edmonton, Alberta? Our personal injury lawyers will work on your behalf to reach a settlement with the insurance companies that will ensure that you are fairly compensated for any injuries sustained by the accident.